1. Only after obtaining the qualification of lending business can we operate lending business.
2. Limit the cash loan interest rate and give the calculation method. The circular reiterated the Supreme People's Court's regulations on private lending rates, and it is necessary to keep the red line of annualized interest rate of 36%. The calculation method of interest rate is to look at the comprehensive capital cost, that is, "the comprehensive capital cost charged by various institutions to borrowers should be converted into an adult form", and the phenomenon of "beheading interest" in cash loan business is prohibited.
3. Lending institutions should abide by the principle of "know your customer", protect the rights and interests of financial consumers, and must not swallow their words to avoid borrowers falling into debt trap. There are detailed provisions in details, such as comprehensive capital cost, upper limit of loan amount, loan term, loan extension limit, "cooling-off period" requirement, loan use limit and repayment method. And it is also required not to lend to people without income, and it is also clear that the total burden of a single loan should be capped and the extension period should not exceed two times. This paper draws lessons from the supervision of payday loans in the United States.
4. Lending institutions shall operate prudently and shall not conceal non-performing assets. Lending institutions should fully consider factors such as lack of credit records, multi-head lending and fraud when operating cash lending business, strengthen risk prevention and control, and reduce or even eliminate the phenomenon of multi-head lending, repeated credit granting and loan support.
5. There is no violent collection.
6. Protect customer information security. Do not abuse technology, steal or abuse customer information in the name of "big data", and do not illegally buy, sell or disclose customer personal information.